Friday, July 16, 2010   
 Industry News  West Marine reports 8percent increase in Q2 sales
West Marine today reported net sales of US$233.4m for its second quarter ended July 3, 2010, an 8.4 per cent increase over the same period a year ago. Same-store sales increased by 9.4 per cent, or US$17.3m, and stores opened in 2009 generated an additional US$8.8m.
In specific categories, sales in its Store segment rose US$18.2m, or 9.2 per cent, to US$212.7m, while Port Supply increased sales by US$0.4m, or 4.3 per cent, to US$9.3m. Net sales of its Direct Segment fell by US$0.4m, or 2.9 per cent, to US$11.5m.
West Marine CEO Geoff Eisenberg said that unusually warm weather in the US northeast prompted boaters to prepare their boats early. The company also noticed an impact by the Gulf oil spill in the southeastern US. "During the second quarter, we experienced a decrease in sales of products typically used by recreational boaters and fishermen," he said. "However, this was almost completely offset by sales of products which appear to be connected with fighting the oil spill." The full release.

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